June 5, 2020 / 10:19 AM / a month ago

SE Asia Stocks-Singapore, Malaysia mark best week in a decade on recovery hopes

    * Singapore, Philippines gain about 10% over the week
    * Thailand gains most in a week since April 10
    * Philippine snaps 7-day win streak

    By Arundhati Dutta
    June 5 (Reuters) - Most Southeast Asian stock markets ended
higher on Friday, booking strong weekly gains, as easing
coronavirus restrictions and a clutch of stimulus support fed
hopes for an economic recovery.
    Stocks in Singapore, Malaysia and the Philippines marked
their best week in more than a decade, while the Thai bourse
posted its biggest weekly gain since April this year.
    Over the week, regional governments reopened their
coronavirus-stricken economies by easing mobility curbs, with
multi-billion dollar stimulus packages in Indonesia and
Philippines also boosting sentiment.
    Leading the gains on Friday, Singapore shares jumped
1.6% as financial and industrial sectors advanced. Conglomerate
Jardine Matheson Holdings firmed 4.7%, while Singapore
Telecommunications Ltd strengthened 2%.
    The city-state's benchmark gained nearly 10% over the week,
its biggest weekly jump since May 2009.
    Thai stocks rose 1.8% on Friday and nearly 7% this
week, as the heavyweight energy sector gained on the back of
higher oil prices. 
    Philippine shares lost 0.8% on Friday, ending their
seven-session winning run. They added 11% this week. 
    Ruben Carlo Asuncion, chief economist at UnionBank of the
Philippines, said investors were booking profits after a rally
that saw index add nearly 20% in seven days. 
    The index has gained about 60% since it hit a near decade
low in March. 
    Indonesian shares posted a weekly rise of 4.1%,
boosted by fiscal measures announced by the government earlier
in the week.
    Malaysia's benchmark index edged lower on Friday,
snapping a seven-day winning streak. The index, however, firmed
5.6% over the week, its biggest weekly gain since March 2008.
        
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SOUTHEAST ASIAN STOCK MARKETS
    
  Change on the day                                      
  Market             Current       Previous     Pct Move
                                   close        
  Singapore          2751.5        2707.2       1.64
  Bangkok            1435.7        1411.01      1.75
  Manila             6465.13       6517.49      -0.80
  Jakarta            4947.782      4916.704     0.63
  Kuala Lumpur       1556.33       1561.84      -0.35
 Ho Chi Minh         886.22        883.9        0.26
                                                
  Change so far in                              
 2020                                           
  Market             Current       End 2019     Pct Move
  Singapore          2751.5        3222.83      -14.62
  Bangkok            1435.7        1579.84      -9.12
  Manila             6465.13       7,815.26     -17.28
  Jakarta            4947.782      6,299.54     -21.46
  Kuala Lumpur       1556.33       1588.76      -2.04
  Ho Chi Minh        886.22        960.99       -7.78
 


 (Reporting by Arundhati Dutta and Sameer Manekar in Bengaluru;
Editing by Aditya Soni)
  
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